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Retirement Planner

The document outlines a retirement savings plan for a 40 year old individual earning $50,000 annually who contributes $15,000 to their retirement savings each year receiving a 6.25% rate of return. By age 65 their retirement savings balance is projected to be $1,125,667 at which point they will receive an annual pension of $78,517. According to the projections, at age 84 their remaining retirement savings balance will be $25,813.

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Kushal Dabhadkar
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0% found this document useful (0 votes)
46 views4 pages

Retirement Planner

The document outlines a retirement savings plan for a 40 year old individual earning $50,000 annually who contributes $15,000 to their retirement savings each year receiving a 6.25% rate of return. By age 65 their retirement savings balance is projected to be $1,125,667 at which point they will receive an annual pension of $78,517. According to the projections, at age 84 their remaining retirement savings balance will be $25,813.

Uploaded by

Kushal Dabhadkar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Retirement Planner

CONGRATULATIONS! At age 84, you will have a savings balance of $25,813.

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Combo Chart illustrating Savings Disbursements, Cone of Uncertainty, Working Years, and Retirement Savings Balance is in this row

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40 41 42 43 44 45 46 47 48 49
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Input
Now At Retirement Uncertainty

Your Current Age 40 Annual Pension Benefit ($) 0 Investment Return Uncertainty (%) 2.00%

Annual Income ($) 50,000 Annual Pension Benefit Increases (%) 0.00% Annual Savings Amount Uncertainty (%) 0.00%

Annual Inflation and Income Increases (%) 3.00% Desired Retirement Age 65 Annual Savings Increases Uncertainty (%) 0.00%

Retirement Savings Balance ($) 60,000 Number of Years of Retirement Income 20 Annual Pension Benefit Amount Uncertainty (%) 0.00%

Annual Savings Amount ($) 15,000 Income Replacement (%) 75.00% Annual Pension Benefit Increases Uncertainty (%) 0.00%

Annual Savings Increases (%) 0.00% Investment Return (%) 6.25%

Investment Return (%) 6.25%


Chart Details
Desired Retirement
Age Salary Balance Interest Yearly Savings Pension Income Year Ending Balance
Income

40 $50,000 $60,000 $3,750 $15,000 $0 $0 $78,750


41 $51,500 $78,750 $4,922 $15,000 $0 $0 $98,672
42 $53,045 $98,672 $6,167 $15,000 $0 $0 $119,839
43 $54,636 $119,839 $7,490 $15,000 $0 $0 $142,329
44 $56,275 $142,329 $8,896 $15,000 $0 $0 $166,224
45 $57,964 $166,224 $10,389 $15,000 $0 $0 $191,613
46 $59,703 $191,613 $11,976 $15,000 $0 $0 $218,589
47 $61,494 $218,589 $13,662 $15,000 $0 $0 $247,251
48 $63,339 $247,251 $15,453 $15,000 $0 $0 $277,704
49 $65,239 $277,704 $17,357 $15,000 $0 $0 $310,061
50 $67,196 $310,061 $19,379 $15,000 $0 $0 $344,440
51 $69,212 $344,440 $21,527 $15,000 $0 $0 $380,967
52 $71,288 $380,967 $23,810 $15,000 $0 $0 $419,777
53 $73,427 $419,777 $26,236 $15,000 $0 $0 $461,014
54 $75,629 $461,014 $28,813 $15,000 $0 $0 $504,827
55 $77,898 $504,827 $31,552 $15,000 $0 $0 $551,379
56 $80,235 $551,379 $34,461 $15,000 $0 $0 $600,840
57 $82,642 $600,840 $37,552 $15,000 $0 $0 $653,392
58 $85,122 $653,392 $40,837 $15,000 $0 $0 $709,229
59 $87,675 $709,229 $44,327 $15,000 $0 $0 $768,556
60 $90,306 $768,556 $48,035 $15,000 $0 $0 $831,591
61 $93,015 $831,591 $51,974 $15,000 $0 $0 $898,565
62 $95,805 $898,565 $56,160 $15,000 $0 $0 $969,726
63 $98,679 $969,726 $60,608 $15,000 $0 $0 $1,045,333
64 $101,640 $1,045,333 $65,333 $15,000 $0 $0 $1,125,667
65 $0 $1,125,667 $70,354 $0 $78,517 $0 $1,117,504
66 $0 $1,117,504 $69,844 $0 $80,872 $0 $1,106,476
67 $0 $1,106,476 $69,155 $0 $83,298 $0 $1,092,332
68 $0 $1,092,332 $68,271 $0 $85,797 $0 $1,074,806
69 $0 $1,074,806 $67,175 $0 $88,371 $0 $1,053,610
70 $0 $1,053,610 $65,851 $0 $91,022 $0 $1,028,438
71 $0 $1,028,438 $64,277 $0 $93,753 $0 $998,963
72 $0 $998,963 $62,435 $0 $96,566 $0 $964,832
73 $0 $964,832 $60,302 $0 $99,463 $0 $925,672
74 $0 $925,672 $57,854 $0 $102,446 $0 $881,080

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Desired Retirement
Age Salary Balance Interest Yearly Savings Pension Income Year Ending Balance
Income

75 $0 $881,080 $55,067 $0 $105,520 $0 $830,628


76 $0 $830,628 $51,914 $0 $108,685 $0 $773,856
77 $0 $773,856 $48,366 $0 $111,946 $0 $710,276
78 $0 $710,276 $44,392 $0 $115,304 $0 $639,364
79 $0 $639,364 $39,960 $0 $118,764 $0 $560,561
80 $0 $560,561 $35,035 $0 $122,326 $0 $473,270
81 $0 $473,270 $29,579 $0 $125,996 $0 $376,853
82 $0 $376,853 $23,553 $0 $129,776 $0 $270,630
83 $0 $270,630 $16,914 $0 $133,669 $0 $153,875
84 $0 $153,875 $9,617 $0 $137,679 $0 $25,813

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Desired Retirement
Age Salary Balance Interest Yearly Savings Pension Income Year Ending Balance
Income

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